Thai Military bank disclosed it has appointed former Kasikorn Bank assistant managing director Boontak Wangchareon as it new managing director.

Treasury permanent secretary Sathit Limpongpan said the board has approved on agreement to appoint Mr. Boontak succeeding Mr. Supak Sivarak, whose agreement will be terminated in September, as its new MD.

Mr. Boontak said he will form up a team of 3-4 managerial professional to assist his routine, and it may include Mr. Supak.

A new source involved in the company’s top management said Mr. Boontak first task would be reducing its shares’ par value and pay out dividends to persuade investors.

Mr. Boontak has been endorsed by AIG Group, the second largest shareholder of Thai Military Bank, for his professional management in finance and loan.

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